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20130228
Search Results 0 to 3 of about 4 (some duplicates have been removed)
. >> shepard: secretary of defense leon panetta also warns the cuts with hit the pentagon especially hard. while a great deal of the money would come from military training units 000s of civilians could face big pay cuts and even layoffs. particularly in two states. jennifer griffin at the pentagon for us tonight. >> reporter: iif the deep budgt cuts go into effect in 8 days time the hardest hit states will be california and virginia. 17% of the defense cuts in virginia will likely fall on one community known as hampton roads. in fact, the human impact of the sequester on small businesses in this area, these businesses contract to the navy, it is already being felt. tom taylor owns a ship repair business near norfolk. some of his contracts with the navy are already in jeopardy. >> it is not like turning on a picket. you don't turn it on and turn it off. if it is canceled these things are are months or years in the planning stage. if they are canceled they don't come right back, you know. so that is pretty alarming. >> i want to know when am i looking dark am i getting laid off in march or
the feds would have to furlough hundreds of thousands of workers. jennifer griffin is at the pentagon tonight. how bad do officials say this will be for the military. >> in if you listen to the military, really bad. >> instead of a first rate power in the world second rated power that would be the result of sequester. >> you won't hear this chairman arguing we need to do more with less. if that happens we need to do less with less. >> the real problem is as the u.s. and allies. adversaries are doing opposite. russia will surpass defense spending in just two years. china is slated to overtake the u.s. in 2035, shepard. >> shepard: jennifer, analysts are saying that the u.s. defense budget is still larger than the next 13 countries combined. how in the world could this make us a second rate power? if is six times larger than china's official defense spending. >> you have seen double digit a increases in chinese defense spending for more than 15 years now. that should not only give pause to the united states but it really should be a source of concern for the countries in the region as w
Search Results 0 to 3 of about 4 (some duplicates have been removed)